Survey: 35 percent expect the value of their home to increase

Thursday

Nov 28, 2013 at 1:00 PM

A recent independent poll of 710 American homeowners showed 35 percent expect the value of their home to increase over the next year.

The survey also showed:

While 35 percent now believe the value of their home will go up over the next year, the number is down from last month’s all-time high of 38 percent but remaining well above confidence measured from 2009 through 2012.

Just 13 percent expect home values to go down over the next year, while 49 percent think they will remain about the same.

Looking further ahead, 49 percent now say the value of their home will go up in the next five years, down from 56 percent a month ago but more consistent with results for the rest of the year, while 14 percent believe their home’s value will go down during the next five years and 28 percent don’t expect much change during that time.

58 percent still believe their home is worth more than the amount they owe on their mortgage, tying last month’s finding, the second highest measured this year and more optimistic than homeowners have been for much of the last three years, but 33 percent say their home is not worth more than what they owe at this point.